China's steel pipe market, for both seamless and welded pipes, has moved on a sideways trend in the past week, ahead of the Chinese New Year holiday which starts on February 9.
As of February 7, in China's three main steel markets, i.e., Shanghai, Guangzhou and Beijing, the average price of 20# (GB/T8162-1999) grade 108 mm x 4.5 mm seamless pipe now stands at $722/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $764/mt. Meanwhile, on the same date, Q195-215 grade 48 mm x 3.25 mm welded pipe and Q215-235 grade 114 mm x 3.75 mm welded pipe prices in the above markets are standing at $635/mt and $643/mt. All the above prices include 17 percent VAT.
China's seamless pipe market has moved on a stable trend during the past week, while it is believed that prices after the holiday will show an upward trend. Traders have been leaving the market in the past week, and so the trading volume is now very low.
In addition, the Chinese welded pipe market has also moved sideways in the past week, with many traders already enjoying their holidays. It is believed that the market will move upward upon the return from the Chinese New Year holiday, with the support of increased upstream costs.